Some Movement, But Not Much Change In View

With the market moving lower today, we are getting closer to the support box outlined on the 5-minute SPX chart.  And, as long as this support box is held, I am still looking for one more push higher before this 5-wave structure off the early August pullback low completes.  

In the very micro structure, the 6420/25SPX region is micro-resistance.  As long as that resistance holds, then I would expect a test of the support box below us.  Through that micro-resistance, and we have an initial indication that wave (5) has potentially begun.

Overall, I am still viewing this bigger structure as topping, and once we complete this wave (5), I will be seeking evidence of that potential.  As we all know, we will need to break down below the support box, with follow through below 6287SPX to provide us with an initial indication of a top.   And, of course, we will need to then break down below the 6200SPX region to make it likely the larger pullback we have been seeking is in progress.